Nadya

Nadya is a 51-year-old married woman with six children, living with them in her own house in one of Taiz counties, Yemen. She is an uneducated woman, but she is very vigorous. The family lives in a very miserable condition and this business is the sole income source for them. Nadya wants to purchase more goats to raise them and resell in order to expand her business. She also has good experience in the dressmaking business, but she lacks the financial support to purchase a sewing machine and other materials. She has raised goats for many years and this is the favored business of the family, But the income from it is not enough to cover all the needs of the family. As a result, Nadya applied for a loan of 70,000 YER from AMB to buy more goats in order to raise and sell them in the local markets to earn a lot of money. Nadya's dreams are to expand this business and open a small store for the sewing clothes. She hopes to provide her children with a lot of money.

Additional Information

More information about this loan

This loan is part of a joint program between Al Amal and the Social Welfare Fund in Yemen to reach the extreme poor who are dependent on grants from the state's Social Safety Net. Al Amal enables these borrowers to establish new enterprises and grow existing ones so they can boost their income and stop living on government funds. By funding this loan, you are empowering the extreme poor in Yemen to lift themselves out of poverty.

About Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.